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dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the big issue has been to get over objections from conservative republicans who are not going to be happy with any potential deal. i just spoke with tom harkin who is a democrat being from iowa. and he's also a leading progressive. he said that he and other progressives might be the ones object or to try to stop any potential deal. the reason he says he's so upset is because he does not like the idea that we have been reporting of keeping the tax cuts in place of income levels up to $450,000. he believes that's too high. the president, as we know, campaigned with a lot of democratic support on $250,000. harkin said he's not happy with the idea that democrats are talking about keeping the estate tax cut in place, which also expires tonight. and he's not happy with talk of patching the amt, which is effectively
dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the big issue has been to get over objections from conservative republicans who are not going to be happy with any potential deal. i just spoke with tom harkin who is a democrat being from iowa. and he's also a leading...
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Jan 1, 2013
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dana, thank you. our chief white house correspondent, jessica yellin, has been watching all of this unfold. she's joining us now. republicans, jessica, they're concerned there simply aren't enough deficit savings in the bill that passed the senate last night. and indeed, the congressional budget office says the bill will add, not reduce, but add to the nation's debt. what's the reaction at the white house? >> reporter: wolf, the congressional budget office's numbers can be a little confusing, actually. because the truth of the matter is, the congressional budget office finds that it will increase the deficit by $3.9 trillion over ten years, but that's only when you take into account the fact that we have gone over the fiscal cliff. that increase in the deficit assumes that all americans have lost their tax cut, that the senate bill puts that tax cut back into place for 98% of americans, and all that revenue is being sucked out of government coffers. now, if you go back one day and remeasure this same
dana, thank you. our chief white house correspondent, jessica yellin, has been watching all of this unfold. she's joining us now. republicans, jessica, they're concerned there simply aren't enough deficit savings in the bill that passed the senate last night. and indeed, the congressional budget office says the bill will add, not reduce, but add to the nation's debt. what's the reaction at the white house? >> reporter: wolf, the congressional budget office's numbers can be a little...
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dana bash is still with us. what are you learning? >> while i was talking to you, i got a message, an e-mail saying -- from a senior democratic source saying the goal is tonight. the goal is to have a vote in the senate tonight. we were talking about how republicans were saying that but don't run the senate. we can't call it a deal, but they're working towards that. >> what would be the big deal if the vote in the senate is delayed until tomorrow morning? >> you know, technically not much. i think psychologically, the fact that we are all talking about the house not being able to vote tonight as us technically going over the fiscal cliff is something that they recognized in the senate. and i also think that for senate republicans and even some democrats, it's not as much of an issue to be able to take home politically the idea of voting for a tax cut as opposed to a tax increase which the house would be doing tomorrow. also just the idea of momentum. they've got the momentum. they don't want to blow it if they've got it. >> you know t
dana bash is still with us. what are you learning? >> while i was talking to you, i got a message, an e-mail saying -- from a senior democratic source saying the goal is tonight. the goal is to have a vote in the senate tonight. we were talking about how republicans were saying that but don't run the senate. we can't call it a deal, but they're working towards that. >> what would be the big deal if the vote in the senate is delayed until tomorrow morning? >> you know,...
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we'll bring in dana here. we know there's progress made, but there's a sticking point that you had mentioned as well. that is about the automatic spending cuts that are scheduled to kick in, and na democrats and republicans have a different sense of when they should deal with that. explain what that's about. >> i will, suzanne. if i may before i get to that, i just want to tell our viewers that i now have confirmation from a republican aide here in the senate of what jessica first reported earlier today. it's that they seem to have agreement on a major issue, which are those tax rates, where they should go. as jessica reported, the tax rates are at $450,000 for households, $400,000 for individuals. what i mean by that, of course, tax cuts that are currently in place right now, they'll stay in place up until those thresholds. above that they go away. there will be tax increases, at least that's how many see them. that, again, has been agreed to by republicans according to a senior republican aide as well as the
we'll bring in dana here. we know there's progress made, but there's a sticking point that you had mentioned as well. that is about the automatic spending cuts that are scheduled to kick in, and na democrats and republicans have a different sense of when they should deal with that. explain what that's about. >> i will, suzanne. if i may before i get to that, i just want to tell our viewers that i now have confirmation from a republican aide here in the senate of what jessica first...
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Dec 28, 2012
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dana, i'll start with you. you listened to big talk on the intro. today was a lot of finger pointing and even more political chicken. but now both sides will be talking to each other tomorrow instead of just at each other. what is the latest on that? >> reporter: that's right. they're going to all be going to the white house. when i say all, i mean the top four congressional leaders, democrats and republicans, to sit down with the president. i'm told by a senior democratic source here in the senate that the expectation is if they can't figure out a path forward over the next three days in this meeting tomorrow, a way to actually pass something to avert the fiscal cliff, then it is very likely, almost definite, that we will go over the cliff. i have to tell you that sources in both parties think that's the likelihood at this point anyway, but this meeting tomorrow is absolutely going to be crucial. and what the senate republican leader mitch mcconnell who you just heard from there, what he's saying he hopes to get from the president is a more detaile
dana, i'll start with you. you listened to big talk on the intro. today was a lot of finger pointing and even more political chicken. but now both sides will be talking to each other tomorrow instead of just at each other. what is the latest on that? >> reporter: that's right. they're going to all be going to the white house. when i say all, i mean the top four congressional leaders, democrats and republicans, to sit down with the president. i'm told by a senior democratic source here in...
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dana, what are you drawing? what conclusions are you drawing from what you're hearing? >> let me give you a little bit of color of what i witnessed, maybe better to say what i smelled coming over here. i took the back way where senators have hide aways in the capital, and i smelled a lot of firewood. people are lighting fires like they're in for a long night here on new year's eve. and perhaps that is a good sign that there is genuine optimism that they could have a vote tonight. that is what i was told by a senior democratic source, that the goal is tonight, senate democrats insist they're not there yet. there's still some outstanding issues on the republican side, however, there was a meeting probably now about an hour, hour and a half ago, among all senate republicans, and many, many senate republicans came out and said they did believe we were very, very close, and they were sticking around for a vote tonight. so that's where we are right now. but we are also anticipating, as jessica reported earlier, joe biden to come up to the senate to talk to his fellow democrat
dana, what are you drawing? what conclusions are you drawing from what you're hearing? >> let me give you a little bit of color of what i witnessed, maybe better to say what i smelled coming over here. i took the back way where senators have hide aways in the capital, and i smelled a lot of firewood. people are lighting fires like they're in for a long night here on new year's eve. and perhaps that is a good sign that there is genuine optimism that they could have a vote tonight. that is...
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dana, we want to begin with you. we are hearing there might have been some progress overnight. >> a lot more optimism being expressed from sources in both parties. mitch mcconnell who the prime negotiator on the republican side just moments ago told reporters he spoke to the vice president, who is the prime negotiator now on the democrat side. so not totally all night, but they were up pretty late and early into the morning going back and forth making what again several sources say was significant progress. again, hate to say it, i have seen that movie before. i know you have too in covering similar negotiations like this. this is really, really been a roller coaster with people feeling optimistic and suddenly we hear things hit a snag. as you said, 14 hours to go. there's nothing like a deadline that really pushes congress to do something. >> and dana, one of the sticking points you have been talking about so much here is negotiations over the income level that will actually see a tax hike. the president has stuck t
dana, we want to begin with you. we are hearing there might have been some progress overnight. >> a lot more optimism being expressed from sources in both parties. mitch mcconnell who the prime negotiator on the republican side just moments ago told reporters he spoke to the vice president, who is the prime negotiator now on the democrat side. so not totally all night, but they were up pretty late and early into the morning going back and forth making what again several sources say was...